By Russell Hotten, Industry Editor
Last Updated: 2:39am BST 20/04/2007
The chairman of Imperial Energy, Peter Levine, has held emergency talks with the authorities in Russia after the oil company’s shares tumbled for a second day following threats to revoke some of its licences to operate.
Imperial’s shares fell 11pc yesterday following a 15pc plunge on Wednesday, after the deputy head of Russia’s environmental inspectorate, Oleg Mitvol, suggested the company was one of several operators that had falsified its reserves.
Imperial put out a strongly worded defence, and in Moscow late yesterday afternoon Mr Levine met Mr Mitvol and the governor of the Tomsk region to seek clarification about the allegations. A company source said both sides “asked a lot of questions and would now prepare the answers.”
Although several analysts thought the share price fall was overdone, investors were spooked because it was Mr Mitvol who led the charge against Shell last year over claims the company breached environmental licences at its Sakahlin 2 gas development.
Artyom Konchin, an oil analyst at Aton Capital in Moscow, compared the situation to alleged breaches by Peter Hambro Mining last year. The situation was resolved and the share price rose. Mr Konchin said: “Imperial has unfortunately become a target in Mitvol’s current campaign. We note that his actions seldom result in actual legal consequences for licences.
“We do not believe the latest news will result in revocation of Imperial’s licences, and the stock should ultimately return to its previous levels.” Imperial shares closed down 135p at £10.92p yesterday.
On Wednesday Mr Mitvol asked the Federal Security Service, the main successor to the Soviet KGB, to investigate allegations that foreign-listed companies overstated Russian reserves to boost their market value. “We are dealing with empty companies,” Mitvol said in an emailed statement.
Imperial said: “The company will defend and protect its legitimate rights.”
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/04/20/cnimperial20.xml
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
